SMM Morning Review - 2010/7/12 Copper Market -Shanghai Metals Market

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SMM Morning Review - 2010/7/12 Copper Market

SMM Insight 09:35:50AM Jul 12, 2010 Source:SMM

SHANGHAI, July 12 (SMM) – LME copper prices on Friday continued to advance due to a rally in US equities market, and a weaker US dollar, and reached as high as USD 6,775/mt before closing at USD 6,745/mt, up USD 85/mt.

Based on preliminary data from China Customs, China’s imports of unwrought copper and copper semis fell in June on a monthly basis, and the news is expected to hold copper price gains in check in the short term. SMM believes SHFE July delivery copper prices will fluctuate in the RMB 53,700-54,200/mt range on Monday.

To contact the writer on this report: iriszhu@smm.cn 

 

Copyright © SMM. All Rights Reserved

None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: service.en@smm.cn

SMM Morning Review - 2010/7/12 Copper Market

SMM Insight 09:35:50AM Jul 12, 2010 Source:SMM

SHANGHAI, July 12 (SMM) – LME copper prices on Friday continued to advance due to a rally in US equities market, and a weaker US dollar, and reached as high as USD 6,775/mt before closing at USD 6,745/mt, up USD 85/mt.

Based on preliminary data from China Customs, China’s imports of unwrought copper and copper semis fell in June on a monthly basis, and the news is expected to hold copper price gains in check in the short term. SMM believes SHFE July delivery copper prices will fluctuate in the RMB 53,700-54,200/mt range on Monday.

To contact the writer on this report: iriszhu@smm.cn 

 

Copyright © SMM. All Rights Reserved

None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: service.en@smm.cn